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Buying a Cabin with Desrochers Realty Group

Julie and Daniel Desrochers from Desrochers Realty Group and Coldwell Banker Burnet share advice on buying a cabin, including how you could get some help with the mortgage!

Location/proximity to your primary home

Do you want a cabin that is close or in the Twin Cities metro area or farther away. If the property is close you can head out there easily even on week nights or just for the day. If it is farther away you have more of that up north feel where things slow down a little bit and you can’t get back as easily for work (which is sometimes a good thing if you need to relax).

How will you maintain the cabin and understanding costs associated?

Do you want to be doing yard work and mowing the grass or do you want to hire someone to do it? Do you want to be able to go to your cabin in the winter and if so who will plow the driveway? Is the property on a septic and well, do you know how to take care of those and the costs related to it and replacement down the road? Do you need storage for lawn equipment, snow removal equipment, etc.? These are all questions worth asking.

Rental option or joint ownership

This is a great way for someone to purchase a cabin if money is tight. Consider renting it out when your not using it. You can rent on websites like VRBO or Air BnB. People will spend good money to rent a lake home for the week or weekend. Just make sure you check in to local ordinances on short term rentals. Rental income may allow you to pay down that mortgage faster. Think about joint ownership with another person, couple or family. Allows you to share the costs and split up time using it. Great option if you have people you trust and are aligned with financially and are ok splitting up time spent at the cabin.

How often will you use now and in the future?

Plan for long term enjoyment. Think about how your life is going to be 10 years down the road and will a cabin fit into it.

If you have young kids will you be able to visit as much once they start sports? Do you want to use it year round? Not all cabins are equipped to be used in the winter, make sure to look into this before buying and know the costs related to converting the cabin to a year round home.